Find a South Kensington Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in South Kensington? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your South Kensington home move at risk of delay or failure.

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Recently asked questions about conveyancing in South Kensington

I am hoping to receive a mortgage offer from Nat West. I hope to instruct a Licensed Conveyancer in South Kensington. Does the Nat West Conveyancing panel exclude conveyancers regulated by the CLC?

The Nat West conveyancing panel is, like many other lenders, associated to the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.

About to place a bid on a leasehold apartment in South Kensington. The estate agents assure me that it is standard for flats in South Kensington to have less than 75 years unexpired on the lease. I am getting a mortgage with Bank of Ireland. Will the property be mortgageable given that the lease has 69 years left.

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 6/12/2018 the requirements read as follows :

Yes, subject to a minimum lease term of 85 years. The unexpired lease term must be at least the mortgage term plus 45 years. See also 5.14.9

Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. South Kensington is where the house is located. Can you shed any light on this issue?

Flying freeholds in South Kensington are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in South Kensington you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in South Kensington may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.

Completion is due on the sale of our £375,000 maisonette in South Kensington on Wednesday in a week. The managing agents has quoted £384 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in South Kensington?

For the majority of leasehold sales in South Kensington conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

    Completing conveyancing due diligence questions Where consent is required before sale in South Kensington Copies of the building insurance and schedule Deeds of covenant upon sale Registering of the assignment of the change of lessee after a sale
Your lawyer will have no control over the level of the charges for this information but the average costs for the information for South Kensington leasehold premises is £350. For South Kensington conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply answers.

We have reached the end of our tether in negotiating a lease extension in South Kensington. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Where there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the LVT to calculate the amount due.

An example of a Lease Extension case for a South Kensington flat is Flat 16 21/22 Stanhope Gardens in November 2010. the Leasehold Valuation Tribunal concluded that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993, was £106,975 This case related to 1 flat. The unexpired residue of the current lease was 51.93 years.

At last I have had an offer on an apartment in South Kensington agreed to, but there is a chain. The sellers have offered on a flat, although it’s not yet agreed to, and are looking at other properties booked. I have selected a local conveyancing solicitor in South Kensington. What do I do now? At what stage do I apply for the mortgage with Bank of Ireland?

It is standard to have anxieties where there is an associated chain as you are unlikely to want to incur expenses too early (home loan application is approx one thousand pounds, then valuation, South Kensington conveyancing search fees, etc). First, you must ensure that your conveyancing practitioner is on the Bank of Ireland conveyancing panel. Concerning the subsequent steps this very much dictated by the specifics of your case, desire for this property and on the state of the market. During a hot market many home buyers will apply for the mortgage with Bank of Ireland and arrange for the valuation and only if it comes back ok would they ask their solicitor to proceed with the conveyancing in South Kensington.

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Find out more about how flying freehold can affect your the value of a property.